SINGAPORE (Oct 29):  The steep overnight drop in the US markets pushed the Straits Times Index below the 3,000-point benchmark at one juncture to as low as 2,984.47 on Oct 25. Year to date (YTD), the STI has dropped 11.65% to close at 3,012.84 points on Oct 25.

“Overall, although we can’t tell when market sentiment will improve, we do believe that at a bottom-up fundamental level, companies are still doing well,” says Steve Medina, chief investment officer for global equities at Manulife Asset Management.

He notes that valuations of many companies are now more attractive than they have been in the recent past. This, coupled with strong underlying fundamentals, suggests that many of them are being unjustly punished. “This combination would seem to bode well for long-term investors,” he says.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook